Bank of Ireland said it is increasing its one year term deposit account rates by a further 0.5% from today.
The bank said this allows both its personal and business customers to earn 1.25% on its one Year Advantage Fixed Term Deposit and 365 12 Month Fixed Term accounts, without limit.
This follows the launch of Bank of Ireland's "SuperSaver" deposit account with 1.5% rate for the first 12 months and €100 off home or car insurance.
Banks are coming under growing pressure to funnel through the benefits of European Central Bank interest rate increases over recent months to those with savings.
The ECB earlier this month increased its interest rates eight times in a row, extending its fight against inflation that remains stubbornly high
